GOXUSD-BitstampUSD Arbitrage Tightens the Noose

"As the fleeing coins from Gox hit Bitstamp , they were exchanged back out to USD, placing significant downward pressure on the BitstampUSD price while that same flight left the dollars back at Gox chasing fewer coins and perversely supporting and even pushing up the price there."

Since I started putting this together (actually before I'd finished editing) the daily drop is even more pronounced. I'm still happy attributing this to the arbitrage trade between Bitstamp and Mt.Gox USD.

This is my first 'thought' and the dates are off. I'm looking for this trade to play out within the week.

Nice chart, but I would be careful going long here w/o tight stops. This chart just keeps breaking support levels as fast as it can find them. Methinks the time to get bullish is still a few days away.